See this dialog response. Innovation economists believe that what primarily drives economic growth in today’s knowledge-based economy is not capital accumulation as neoclassical economics asserts, but innovative capacity spurred by appropriable knowledge and technological externalities. What came before?
A dialog between 2 people:
Person X: What are the main types of innovation economics?
Person Y: Innovation economics emerges from other schools of thought in economics, including new institutional economics, new growth theory, endogenous growth theory, evolutionary economics and neo-Schumpeterian economics.
Person X: What are the benefits of utilizing innovation economics?
Person Y: It provides an economic framework that explains and helps support growth in today’s knowledge economy.
Person X: Who were the leading theorists of innovation economics?
Person Y: Leading theorists of innovation economics include both formal economists as well as management theorists, technology policy experts and others.
Person X: Any notable theorists of the field?
Person Y: These include Paul Romer, Elhanan Helpman, Bronwyn Hall, W. Brian Arthur, Robert Axtell, Richard R. Nelson, Richard Lipsey, Michael Porter, Keun Lee and Christopher Freeman.
Person X: What do theorists in this field believe?
Person Y: 